Freight Brokers Within the transportation marketplace, brokers provide a myriad of services. Brokers fill the gaps between shippers, owner-operators, and draymen. Brokers also assist shippers and trucking companies with resource and technology-constraints. In addition, brokers help cover capacity shortfalls and often provide ancillary services like transportation management outsourcing. Like everyone else, brokers want to make […]
2019
Nigerian digital freight marketplace startup Kobo360 raised $20 million in a Series A funding round led by Goldman Sachs while pocketing another $10 million in working capital financing from Nigerian commercial banks. Kobo360 is one of the most recognized FreightTech players in Africa, revolutionizing a cacophonic market riddled with several inconsistencies. Kobo360 began its journey
Transfix chief operating officer Lily Shen has added president to her title. The digital freight marketplace announced Shen’s promotion on August 14. Prior to joining New York City-based Transfix about two years ago, Shen spent nearly 20 years in Silicon Valley. She was the executive director of mobility and advanced technology for IDEO for a
In June, Starsky Robotics performed the first fully unmanned test on a public highway with real traffic. (Starsky Robotics/YouTube) [Stay on top of transportation news: Get TTNews in your inbox.] Loadsmart and Starsky Robotics said the companies have automatically dispatched an autonomous truck to haul freight. The truck was successfully priced, tendered and booked via
Uber Technologies Inc. (NYSE: UBER) second quarter 2019 report probably won’t receive the accolades garnered by its ride-hailing competitor, Lyft (NYSE: LYFT). Uber’s second quarter as a public company saw a loss of $5.2 billion (closer to $1 billion excluding stock-based compensation and one-time driver awards), or $4.72 per share, which was much worse than
Cargo Chief, formerly a tech-enabled broker that has since sold off that part of its business, announced the release of the latest version of what it calls its C4 platform — version 2.0 it pitches to brokers as “the most complete and informative database of trucking carrier lane preferences and availability in the OTR (over-the-road)
If everything goes right, the market cap of all digital brokerages in the United States could total $30 billion in 10 years. The total addressable market for digital freight brokerage is a mere fraction of the size quoted in pitch decks and investment bank research reports, but there’s still plenty of upside for a few
Freightera, a Canadian-based digital freight marketplace, plans to go public. CEO Eric Beckwitt confirmed to FreightWaves on August 1 that his Vancouver-based firm is seeking a listing on the TSX Venture Exchange through a process similar to an initial public offering. “Our intention to be a publicly listed company,” Beckwitt said. Freightera is utilizing a
The excessive fragmentation within the trucking market has implications that run deep, with fleets of different sizes looking at issues related to trucking operations from very different perspectives. Big trucking companies, though fewer in number, have long exerted an advantage over small and mid-tier companies by putting together expansive networks and maintaining steady relationships with
Convoy CEO Dan Lewis is giving a tour of the company’s headquarters in downtown Seattle. He points out the stocked kitchens (plural), the 55-person data science team, the P&G Carrier of the Year award and the Ping Pong station, then stops in front of a bulletin board featuring the “Pets of Convoy.” There he pulls